50% stake in UK’s Lafarge Tarmac to be sold by Anglo American

Plans to sell its 50% stake in Lafarge Tarmac to Lafarge have been revealed by Anglo American. The stake will be sold for a minimum consideration of €1.12 billion in cash and the proceeds will be used by the miner to pay down debt. It will sell the stake on a debt and cash free basis. Lafarge Tarmac was formed as an equal joint venture between Anglo American's Tarmac business and Lafarge UK. The divestment of the joint venture is set to be offered to the European Commission by Lafarge as part of its prop
July 8, 2014 Read time: 1 min

Plans to sell its 50% stake in 7235 Lafarge Tarmac to 725 Lafarge have been revealed by 722 Anglo American. The stake will be sold for a minimum consideration of €1.12 billion in cash and the proceeds will be used by the miner to pay down debt. It will sell the stake on a debt and cash free basis.

Lafarge Tarmac was formed as an equal joint venture between Anglo American's Tarmac business and Lafarge UK. The divestment of the joint venture is set to be offered to the 1022 European Commission by Lafarge as part of its proposed near €30 billion 680 Holcim merger. Some €5 billion in assets must be shed by Lafarge and Holcim to meet industry competition criteria. Anglo American aims to finalise the terms of an agreement in Q3 2014.

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